From the lastest Order from Judge Du (Jan 13):

• "Defendants have until January 26, 2022, to produce a revised administrative record"
• "... merits summary judgment motions are due another 30 days after that" (Feb 25)
• "merits briefing ... is fast approaching" (March?)
• Ruling "before the 2022 construction season begins" (end of March?)

I think the recent pull back is due mainly to macro factors. A favourable ruling should result in a significant re-rate of the stock. Why? Because it will allow institutional investors to take a position (as Roy has previously noted), and it allows the partnering/financing of TP to be concluded.

I am not worried about the Tribal claims - their case is all but dead.

I think LAC/BLM have covered off the environmental risks very well. But there is a risk that in doing so, there may have been a procedural error/oversight/shortcut that needs to be rectified. Best case scenario is a green light to proceed. Worst case scenario is a 12 month project delay - hopefully that is not the case.

I am sitting tight.

All IMO. DYOR.